Affin Group wins third straight JP Morgan Elite Quality Recognition Award

KUALA LUMPUR (Dec 5): Affin Group has earned the JP Morgan US dollar Clearing Elite Quality Recognition Award for three consecutive years from 2023 to 2025 after it achieved a Straight Through Processing (STP) rate of 100 per cent in MT202 transactions.

The MT202 Elite category represents the highest tier of JP Morgan’s global Quality Recognition Awards programme, which has recognised excellence in transaction processing since 1997.

JP Morgan grants this elite status only to institutions that record an STP rate of at least 99.70 per cent, well above the standard benchmark of 99.40 per cent, with a minimum of 8,000 MT202 transactions a year.

The bank in a statement on Friday said its consistent performance over the three years shows its discipline and precision in managing cross border US dollar payments through its partnership with JP Morgan, the group’s primary US dollar correspondent banking partner.

MT202 transactions are interbank transfers that support the movement of US dollar payments across borders.

A 100 per cent STP rate means the group processed almost all transactions automatically without errors or manual intervention.

AFFIN exceeded the benchmark each year and demonstrated strong operational efficiency in cross border payments and treasury flows.

Affin Group president and group CEO Datuk Wan Razly Abdullah said the achievement demonstrates the Group’s operational excellence and aligns with the AFFIN Axelerate (AX28) Plan’s strategic pillars of “Unrivalled Customer Service, Digital Leadership and Responsible Banking With Impact”.

“Maintaining STP rates above 99.70 per cent requires meticulous attention to detail, robust operational processes, and a culture of continuous improvement.

“We are honoured to receive this recognition from JP Morgan and remain committed to delivering seamless, efficient, and reliable payment services that exceed our clients’ expectations,” he said.

This recognition supports AFFIN’s wider digital transformation efforts and its commitment to deliver world class banking services to retail, SME and corporate clients in Malaysia and the region.